(ex officio Director)
Mr. Macklem was appointed Governor of the Bank of Canada, effective 3 June 2020, for a term of seven years. As Governor, he is also Chairman of the Board of Directors of the Bank.
Born in Montreal, Quebec, Mr. Macklem graduated from Queen’s University in 1983 with a bachelor’s degree in economics and completed a master’s degree and a PhD in economics from the University of Western Ontario.
Prior to his appointment as Governor, Mr. Macklem was Dean of the Rotman School of Management at the University of Toronto, where he was a frequent speaker on the global financial system, risk management and public policy.
Before joining Rotman, he served as the Senior Deputy Governor at the Bank of Canada between July 2010 and May 2014. In this capacity, he was the Bank’s Chief Operating Officer and a member of the Board of Directors of the Bank. Mr. Macklem’s duties included acting for the Governor, overseeing strategic planning and coordinating the Bank’s operations, sharing responsibility for the conduct of monetary policy as a member of the Bank’s Governing Council, and participating in fulfilling the Bank’s responsibilities for promoting financial stability.
He was the first Chair of the Financial Stability Board’s Standing Committee for Standards Implementation from 2009 to 2013 and represented the Bank of Canada at the FSB. Previously, Mr. Macklem was Associate Deputy Minister at the Department of Finance from 2007 to 2010, serving as Canada’s representative at the G7, G20 and Financial Stability Board.